Which of the following is defined as introducing a new product at a relatively low price with the intention of establishing a large market share before competitors can establish themselves?
A) Skimming strategy
B) Penetration pricing
C) Cost-based pricing
D) Value-based pricing

Question

Quizplus · Accepted Answer

Penetration pricing is the strategy of setting a low initial price for a new product to attract a large number of customers quickly and gain a significant market share before competitors can react.

Which of the Following Is Defined as Introducing a New